Český finanční a účetní časopis 2026(2):55-68
SFDR Funds Performance Differences – Fixed Income and Equity Funds
This study examines whether the SFDR (Sustainable Finance Disclosure Regulation) regulation provides economically meaningful difference among EU mutual funds in respect to its net performance across equity and fixed income asset classes. The results on a sample of over 7 000 mutual funds indicate that while Article 8 and Article 9 funds often exhibit superior raw returns and attract stronger investor inflows these advantages largely dissolves when traditional risk factors such as value, momentum, or default probability are accounted for. Overall, the findings suggest that SFDR classifications carry meaningful sustainability signals, yet do not systematically reflect the superior performance.
Keywords: Sustainable finance, sfdr, esg funds, mutual fund performance
JEL classification: G11, G12
Published: September 21, 2026 Show citation
This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.